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to the meltdown. also today, global banking giant hsbc agrees to a record payment $1.92 billion. yes, that's billion with a b to settle accusations of money laundering. check this out. a report by the senate banking committee found that hsbc in mexico shipped $7 billion in cash across the u.s. border. 7 billion bucks, no way there wasn't a bunch of drug money there. great guest here on this today, a man who told me at the commercial break likes to get to say, i told you so. neil barofsky, the head of hsbc here, his name is stuart gulliver. we accept responsibility for our past mistakes, goes on to say we have said we're profoundly sorry and we say so again. neil, is there any way these banking officials did not know they were dealing with drug money? >> look, you look at the scope and size of the conduct that is described in the settlement and just the number of the settlement of $2 billion. >> huge. >> the notion this wasn't something that was known on senior levels of the banks. at least they had plenty of reason to suspect that this was ongoing. and gulliver should be happy today. he ju
. a record settlement but no prosecution at global banking giant hsbc. admits it failed to stop money laundering by mexican drug cartels and terrorism financiers. [ male announcer ] red lobster's crabfest ends soon. hurry in and try five succulent entrees, like our tender snow crab paired with savory garlic shrimp. just $12.99. come into red lobster and sea food differently. and introducing 7 lunch choices for just $7.99. >>> this is where high finance and street crime intersect could be a problem on your street as well. talking about the banking giant hsbc, europe's largest, have to pay $2 billion to settle investigation by u.s. prosecutors who are looking into international drug money laundering. investigators say the bank ignored rules that could have stopped this laundering operation, that the money went to drug cartels and terrorists. jim bolden is joining us london. what happened? >> reporter: well, suzanne, this is interesting. all of these banks have been fined by the u.s. government over last few years but hsbc, by far, the biggest. this fine, as you say, $1.9 billion. the go
.9 billion, that's how much global banking giant hsbc is paying the united states government to resolve accusations of money laundering for mexican drug cartels and terror-linked groups in saudi arabia. business correspondent christine romans joins us now from new york, and it's a serious allegation here. >> it really is and the group hsbc, the uk's largest bank wants to put this behind it, trying to settle the serious allegations, $1.92 billion will be what they will pay the u.s. government, there will be a press conference later today, the justice department, the manhattan d.a. and others to put this to rest. banks operating in the u.s. have an obligation to know their customer and abide by u.s. laws and u.s. sanctions against some pretty bad characters and hsbc apparently didn't do that. that's the allegation of the united states government, helping transfer money for drug cart cartels, for terrorist groups, for countries we're not supposed to be doing business with overall. these sanctions around libya, myanmar, syria and mexican cartels, this is what hsbc says, wants to put the who
. >> europe's biggest bank, you heard about this, hsbc agreed to pony up close to $2 billion to settle accusations of money laundering. the senate banking committee they found that hsbc in mexico shipped $7 billion in cash, mind you, across the border, maybe turned a blind eye to where the money came from, want you to listen to neil barofsky, we had him on the show yesterday, and i asked him whether top bank officials knew they were handling drug money there. >> the notion that this wasn't something that was known on senior levels of the banks, at least they had plenty of reason to suspect that this was ongoing and, look, i think somebody described it as the biggest slap on the wrist in the history of banking fines. >> stuart gulliver receiving the big wrist slap in terms of bank fines. told me 2 billion bucks, that was chump change and it shows that crime pays. what do you think? >> i think any big bank, anybody in charge of the bank, bears responsibility for the conduct of the bank. hsbc is a famously tightly run bank. obviously the people at the top had to know something was amiss.
to pursue criminal charges against hsbc. the bank admits laundering money from iran, libya and myanmar. chuck grassley calls the lack of charges a declaration that "crime does pay." the justice department did not comment but defends its nearly $2 billion settlement with the bank. >>> two massachusetts costco workers are splitting a $50 million powerball prize. rosa deleon buys two tickets every day and shares them with her co-worker reginald. on wednesday the tickets finally paid off. the two will each get $11 million after taxes. congratulations to them. very lucky. >>> there is a machine that could one day be used to make homemade guns, not only that, it could make plastic guns that a metal detector won't find. you can believe some people are worried about it. here is joe johns with more. >> reporter: in the this northern virginia gun store you can buy all sorts of weapons but what if you could make weapons in your own home using a three-dimensional printer. sounds like science fiction but to some it's not far-fetched. >> primarily 3-d printers are used to manufacture parts for antiq
Search Results 0 to 4 of about 5

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